Apple Inc. (NASDAQ:AAPL) is said to be stepping up its lobbying efforts in the U.S. capital in contrast to how the company’s co-founder and legendary CEO Steve Jobs used to avoid dealing with the government.
“$2.9 million. That’s how much Apple spent last January to the third quarter on lobbying in Washington,” Higgins noted.
Nonetheless, the Apple Inc. (NASDAQ:AAPL) spending is dwarfed by Google Inc (NASDAQ:GOOGL)’s lobbying expenditure in the same period last year which amounted to about $14 million, Higgins noted.
However, it is on pace for a new record for the technology giant which makes iPhones, iPads, Macs and MacBooks, the Bloomberg reported added. It underscores just how much more of a presence the company is in Washington, he said.
According to Higgins, the previous approach Apple Inc. (NASDAQ:AAPL) had with dealing with Washington is changing under Tim Cook, the current CEO of the company, as Cook is getting the company out in the community in D.C. Higgins said that as the world’s largest company, Apple is facing more and more issues as they also develop more products.
The Bloomberg reporter added that the company’s push into health data with the imminent launch of the Apple Watch may be one factor why the firm is having more conversations in Washington with politicians and other government officials.
Apple Inc. (NASDAQ:AAPL) shareholders includes Arrowstreet Capital managed by Peter Rathjens, Bruce Clarke and John Campbell. The firm reported a stake of about 7.56 million shares in the iPhone maker by the end of the third quarter of 2014. The stake valued then at about $761.61 million is a 38% decrease in Arrowstreet’s stake in Apple quarter-over-quarter.